Egypt steel rebar imports slid 80% in 8 months

Big 5

Egypt’s imports of reinforcing bar, or rebar, have fallen sharply over the first eight months of this year.

The January-August total was 300,000 tonnes, down 80 percent on last year’s equivalent figure, George Matta, corporate marketing officer at Ezz Steel, told Amwal Al Ghad on Sunday.

The year-on-year drop in tonnage terms was 961,000, Matta added.

The decline was due to the rebar growing prices, as it is offered at around $575, or 11,567 pounds before duties, and 12,616 pounds after, compared to local price of 11,975 pounds, the official explained.

Another factor Matta highlighted was the Egyptian government’s anti-dumping duties on the imported rebars.